Netflix, eBay gains highlight tech action

Apple slips, as does Dell

SAN FRANCISCO (MarketWatch) — Netflix Inc. and eBay Inc. put in strong performances Thursday, but most of the rest of the tech sector had a mixed performance and staggered to the close along with the broad market.

The Nasdaq Composite Index
COMP, -0.94%
managed to crawl out of the red to close with a gain of 2 points at 2,459. The Philadelphia Semiconductor Index
SOX, -1.17%
closed with a small loss.

digits: Netflix tests streaming-only subscriptions

(2:55)

Netflix CEO Reed Hastings says the company is testing a streaming-only option for its U.S. subscription service, and says he doesn't see any evidence that his nearly 17 million customers are choosing Netflix instead of cable. AllThingsD's Peter Kafka joins Digits to discuss.

But Netflix
NFLX, -1.39%
shares flexed their muscles, climbing $19.54, or more than 12%, to $172.69. After the market closed Wednesday, Netflix reported a third-quarter profit of $38 million, or 70 cents a share, on $553.2 million in sales, up from earnings of $30.1 million, or 52 cents a share, on revenue of $423.1 million in the year-ago period.

Netflix said its results were helped by an increase in new subscribers, more of whom are using the company’s online video-streaming services for longer lengths of time.

EBay
EBAY, -0.42%
shares also performed well, climbing $1.54 a share, or 6%, to $27.20. Late Wednesday, eBay said its third-quarter earnings rose 23% from a year ago, mostly due to strength in its PayPal business. For the quarter, eBay earned $432 million, or 33 cents a share, on $2.25 billion in sales. Read more about eBay's results.

Rex on Techs: Seagate's 'secret'

(2:30)

The story of Seagate potentially going private has become a public spectacle, according to Rex Crum.

Amazon.com Inc.
AMZN, -0.66%
shares rose $6.30, or 4%, to $164.97 ahead of the online retailer’s quarterly results, due after the market close.

Seagate Technology
STX, -1.98%
shares edged up by a penny to close at $15.23. Late Wednesday, the hard-disk drive maker reported a 17% drop in its fiscal first-quarter earnings, amid reports that the company could soon be taken private.

But there were enough decliners to make their presence felt on the sector.

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